Answer : The Project Life Cycle
refers to a logical sequence of activities to accomplish the project’s goals or
objectives. Regardless of scope or complexity, any project goes through a
series of stages during its life. There is first an Initiation or Birth phase,
in which the outputs and critical success factors are defined, followed by a

Answer : Making the right
decision can add significantly to your organization's bottom line in terms of
cost savings and increased efficiency. Outsourcing can bring fresh minds to
your business, and it can also free time up for innovation and other vital
tasks. However, making the wrong decision can put your business at a
competitive disadvantage. Perhaps you'll lose control of proprietary
information, or receive components

Q3. Explain the steps followed to formulate a simple retail project?
00+10=10

Answer : 10 Steps to Starting a Retail Business

The dream of owning your own
retail business can easily become a reality. It may take a lot of initial work,
but with the right planning anyone can achieve their goals. The following steps
to opening a retail business should be used

Q5. Explain the first 5 stages in retail project execution. 00+10=10

Answer : Whether a project is
large or small, the stages of a project are ultimately the same. Initiate the
project, and then move into planning, followed by execution. Once the project
is in the execution stage, you'll monitor and control it, which will
continually influence changes that loop back to the planning stage as
necessary. Once all project tasks are complete and approved, you will finally
be ready to close the project.

Q6. Describe the Five Stages of Project Life Cycle in Retail Management
00+10=10

Answer : This is the initial
phase of any project. In this phase information is collected from the customer
pertaining to the project and the requirements are analyzed. The entire project
has to be planned and it should be done in strategic manner. The project
manager conducts the analysis of the problem and submits a detailed report to t

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